RESALE prices of non-landed private homes in Singapore rose for the sixth straight month in January 2021, SRX Property said on Tuesday.

Overall prices were up 1.2 per cent from December 2020, and 2.2 per cent higher compared to January 2020, according to flash figures from the real estate portal.

All regions saw price increases month on month. The core central region (CCR) rose by 0.4 per cent, the rest of central region (RCR) or city fringes gained 1.9 per cent, while the outside of central region (OCR) advanced 1.1 per cent.

Year on year, the RCR and OCR were up 1.7 per cent and 3.3 per cent respectively, while the CCR dropped 0.4 per cent.

Resale volume was up 8.6 per cent to about 1,587 units resold in January 2021, from 1,461 units resold in December 2020. Volumes were 128.3 per cent higher than in January 2020 and 136.5 per cent higher than the five-year average volumes for the month of January.

By region, 8.2 per cent of resale volumes in January 2021 came from the OCR, 25.7 per cent from the RCR and 16 per cent from the CCR.

A unit at Le Nouvel Ardmore fetched the highest transacted price of S$17.7 million in the month. The most expensive unit in the RCR was S$5.9 million for a unit at The Interlace. In the OCR, the highest transacted price was S$3.3 million for a unit at Waterview.

SRX said the overall transaction over X-value (TOX) for January 2021 was S$16,000, S$1,000 higher than a month ago.

District 21 (Clementi Park and Upper Bukit Timah) posted the highest median TOX at positive S$38,000. District 17 (Changi Airport and Changi Village) posted the lowest median TOX at negative S$8,000.

TOX measures how much a buyer is overpaying (positive value) or underpaying (negative value) for a property based on SRX’s computer-generated market value. The data includes only districts with more than 10 resale transactions.

Source: https://www.businesstimes.com.sg/real-estate/singapore-condo-resale-prices-rise-for-sixth-straight-month-up-12-in-january-srx